BUSINESS ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2016

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following tables summarize the final fair values of the tangible and identifiable intangible assets acquired and liabilities assumed in the transaction at the acquisition date, net of cash acquired of $41.5 million (in thousands):

Accounts receivable (1)	$	56,851
Inventory	31,259
Income tax receivable and other prepaid expenses	2,407
Deferred income taxes	37,041
Property, plant and equipment	27,540
Intangible assets	632,600
Intangible assets held for sale	4,000
Goodwill	180,808
Other non-current assets	3,844
Total assets assumed	976,350
Current liabilities	67,706
Other non-current liabilities	7,291
Deferred tax liabilities	210,005
Total liabilities assumed	285,002
Cash paid, net of cash acquired (2)	$	691,348

(1) The accounts receivable acquired in the Tower acquisition had a fair value of $56.9 million, net of an allowance for doubtful accounts of $9.0 million, which represented the Company’s best estimate on March 9, 2015 (the closing date of the transaction) of the contractual cash flows not expected to be collected by the acquired companies.

(2) The initial net purchase price of $697.2 million was subject to post-closing working capital adjustments, which resulted in the return of $5.9 million to the Company during the third quarter of 2015.

Schedule of Finite-Lived Intangible Assets

The following tables show the gross carrying values and accumulated amortization, where applicable, of the Company’s intangible assets by type for the Company’s consolidated balance sheets presented (in thousands):

March 31, 2016	Gross Carrying Value		Accumulated Amortization			Intangible Assets, Net
Amortized intangible assets:
Marketed product rights	$	544,976	$	(91,618	)	$	453,358
Royalties	2,200		(246		)	1,954
	547,176		(91,864		)	455,312
Non-amortized intangible assets:
Acquired IPR&D product rights	62,840		—			62,840
Acquired future royalty rights	78,600		—			78,600
	141,440		—			141,440
Total intangible assets	$	688,616	$	(91,864	)	$	596,752

December 31, 2015	Gross Carrying Value		Accumulated Amortization			Intangible Assets, Net
Amortized intangible assets:
Marketed product rights	$	458,675	$	(82,906	)	$	375,769
Royalties	2,200		(189		)	2,011
	460,875		(83,095		)	377,780
Non-amortized intangible assets:
Acquired IPR&D product rights	145,640		—			145,640
Acquired future royalty rights	78,600		—			78,600
	224,240		—			224,240
Total intangible assets	$	685,115	$	(83,095	)	$	602,020

Business Acquisition, Pro Forma Information

The following table reflects the unaudited pro forma combined results of operations for the three months ended March 31, 2015 (assuming the closing of the Tower acquisition occurred on January 1, 2014) (in thousands):

	Three Months Ended March 31, 2015
Total revenues	$	175,533
Net loss	$	(6,595	)

Tower And Lineage

Business Acquisition [Line Items]

Schedule of Finite-Lived Intangible Assets

The following table identifies the Company’s allocations, by category, of the Tower purchase price to the intangible assets acquired:

	Estimated Fair Value		Weighted-Average Estimated Useful Life(years)
Currently marketed product rights	$	381,100	13
Current and future royalty rights	80,800		12
In-process research and development product rights	170,700		n/a
Total intangible assets	$	632,600	12